{"id":19966,"date":"2021-08-05T07:00:02","date_gmt":"2021-08-05T12:00:02","guid":{"rendered":"https:\/\/www.qceventplanning.com\/blog\/?p=19966"},"modified":"2021-08-05T07:00:02","modified_gmt":"2021-08-05T12:00:02","slug":"becoming-a-wedding-planner-how-to-set-your-rates","status":"publish","type":"post","link":"https:\/\/www.qceventplanning.com\/blog\/2021\/08\/becoming-a-wedding-planner-how-to-set-your-rates","title":{"rendered":"Becoming a Wedding Planner: How to Set Your Rates"},"content":{"rendered":"<p><em>Thinking of becoming a wedding planner? Then you&#8217;ll need to know how to properly set your service rates! Luckily, <a href=\"https:\/\/www.qceventplanning.com\/\" target=\"_blank\" rel=\"noopener\">QC Event School<\/a> tutor, Mwai Yeboah, is here to help with 5 awesome tips to get you started!<\/em><\/p>\n<p><em>With over 15 years of industry experience, Mwai is the proud owner of\u00a0<a href=\"https:\/\/lovefrommwai.co.uk\/\" target=\"_blank\" rel=\"noopener noreferrer\">Love, From Mwai<\/a>. In addition to the countless awards she has received over the years, Mwai has also written and published\u00a0<a href=\"https:\/\/www.amazon.com\/Chaos-Free-Bride-Be-Purse-Sized-Declarations-ebook\/dp\/B07FYSWC5T\" target=\"_blank\" rel=\"noopener noreferrer\">her very own book<\/a>\u00a0about wedding planning.<\/em><\/p>\n<p><a href=\"https:\/\/www.qceventplanning.com\/blog\/wp-content\/uploads\/2021\/08\/Becoming-a-wedding-planner-Mwai-Yeboah-headshot.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"672\" height=\"448\" class=\"alignnone size-full wp-image-19970\" src=\"https:\/\/www.qceventplanning.com\/blog\/wp-content\/uploads\/2021\/08\/Becoming-a-wedding-planner-Mwai-Yeboah-headshot.jpg\" alt=\"Becoming a wedding planner article, Aug 05 2021, Mwai Yeboah headshot\" srcset=\"https:\/\/www.qceventplanning.com\/blog\/wp-content\/uploads\/2021\/08\/Becoming-a-wedding-planner-Mwai-Yeboah-headshot.jpg 672w, https:\/\/www.qceventplanning.com\/blog\/wp-content\/uploads\/2021\/08\/Becoming-a-wedding-planner-Mwai-Yeboah-headshot-300x200.jpg 300w\" sizes=\"auto, (max-width: 672px) 100vw, 672px\" \/><\/a><\/p>\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_80 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/www.qceventplanning.com\/blog\/2021\/08\/becoming-a-wedding-planner-how-to-set-your-rates\/#Becoming_a_Wedding_Planner_The_Value_of_Proper_Pricing\" >Becoming a Wedding Planner: The Value of Proper Pricing<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/www.qceventplanning.com\/blog\/2021\/08\/becoming-a-wedding-planner-how-to-set-your-rates\/#Becoming_a_Wedding_Planner_5_Questions_to_Ask_Yourself_Before_Setting_Your_Rates\" >Becoming a Wedding Planner: 5 Questions to Ask Yourself Before Setting Your Rates<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/www.qceventplanning.com\/blog\/2021\/08\/becoming-a-wedding-planner-how-to-set-your-rates\/#Becoming_a_Wedding_Planner_My_Final_Thoughts\" >Becoming a Wedding Planner: My Final Thoughts<\/a><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"Becoming_a_Wedding_Planner_The_Value_of_Proper_Pricing\"><\/span>Becoming a Wedding Planner: The Value of Proper Pricing<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Today, I\u2019m so excited to talk about a topic that is often seen as taboo: <em>pricing<\/em>.<\/p>\n<p>When you\u2019re just starting out as a certified wedding planner, finding pricing that\u2019s fair to both parties (i.e. you and your couples) can sometimes feel difficult. After all, your rates still need to accurately reflect the value you bring to the table! While there&#8217;s no set answer to how much you should charge, there <em>are<\/em> some questions you can ask yourself when establishing your rates. This way, you can ensure that you\u2019re thinking about things in the right manner.<\/p>\n<p>So, let&#8217;s take a look at my Top 5 must-ask questions. In my opinion, these are the key questions you need to consider before setting the prices for your business!<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Becoming_a_Wedding_Planner_5_Questions_to_Ask_Yourself_Before_Setting_Your_Rates\"><\/span>Becoming a Wedding Planner: 5 Questions to Ask Yourself Before Setting Your Rates<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<h3>1. How do I want to structure my pricing?<\/h3>\n<p>Before you begin to think about the specifics of pricing, you should start by understanding how you want to <em>structure<\/em> those prices. There are a few different ways you can structure things:<\/p>\n<h4>Completely Custom<\/h4>\n<p>This is where you speak to a couple and then develop a completely custom, from-scratch quote based on their distinct needs. The main pro with completely custom pricing is that it allows you to account for every single thing a couple will need. Thus, you can ensure you\u2019re not undervaluing yourself, which can sometimes happen with set-package pricing. One of the cons, however, is that custom pricing makes it difficult to let potential leads know how much you charge. In turn, this could mean having phone calls with clients, only to find out they aren\u2019t actually able to afford your services.<\/p>\n<h4>Set Packages<\/h4>\n<p>Set package pricing means you\u2019re associating a very clear, set \u201cprice-tag\u201d with each of the services you offer. <em>Coordination costs X. Wedding planning costs Y. Wedding Planning and Design costs Z<\/em>.<\/p>\n<p>As you can see, it\u2019s pretty simple and straightforward! However, the one con is that there is so much nuance in wedding planning that packages can\u2019t really account for. One coordination couple may take 10 hours of work, while another may take 60. One wedding-design couple may need only a small space designed, whereas another may have an incredibly expansive venue with multiple settings that each need their own design. You can always try to account for and mitigate this by having a maximum number of hours that are included with each package. But actually <em>enforcing<\/em> those boundaries, of course, is often easier said than done.<\/p>\n<p><a href=\"https:\/\/www.qceventplanning.com\/blog\/wp-content\/uploads\/2021\/08\/Becoming-a-wedding-planner-in-post-image-2.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"672\" height=\"448\" class=\"alignnone size-full wp-image-19973\" src=\"https:\/\/www.qceventplanning.com\/blog\/wp-content\/uploads\/2021\/08\/Becoming-a-wedding-planner-in-post-image-2.jpg\" alt=\"Professional man having client consultation with wedding couple clients\" srcset=\"https:\/\/www.qceventplanning.com\/blog\/wp-content\/uploads\/2021\/08\/Becoming-a-wedding-planner-in-post-image-2.jpg 672w, https:\/\/www.qceventplanning.com\/blog\/wp-content\/uploads\/2021\/08\/Becoming-a-wedding-planner-in-post-image-2-300x200.jpg 300w\" sizes=\"auto, (max-width: 672px) 100vw, 672px\" \/><\/a><\/p>\n<h4>Base Rate with Add-Ons and Upgrades<\/h4>\n<p>This option allows you to set base \u201cstarting at\u201d rates for each of your services. At the same time, it also requires clients to pay for additional planning hours, tasks, or upgrades that fall outside of this base rate. I tend to like this option because it\u2019s a very happy medium between the 2 other options mentioned above.<\/p>\n<p>It allows you to clearly communicate your \u201cstarting at\u201d prices on your website, which helps to filter out under-budget leads. Simultaneously, the upgrades and add-ons then allow you to account for the nuances of different situations. As a result, you can ensure that you\u2019re not giving away extra hours or out-of-scope services for free. The key here is to ensure you\u2019re clearly communicating (on your <a href=\"\/blog\/2014\/09\/building-your-website-design\/\" target=\"_blank\" rel=\"noopener\">website<\/a>, in your sales materials, and definitely in your <a href=\"\/blog\/2019\/11\/event-planner-contract-dos-and-donts\/\" target=\"_blank\" rel=\"noopener\">contract<\/a>) what exactly that base-rate includes &#8211; and which items will be charged as add-ons or upgrades.<\/p>\n<h3>2. What is the average cost of a wedding in my area?<\/h3>\n<p>Once you become a wedding planner, you&#8217;ll quickly realize that there\u2019s no set guideline for what you &#8220;should&#8221; be charging for your services. The reason for this is because the events market is <em>vastly<\/em> different, depending on location.<\/p>\n<p>Want to truly set an accurate, effective price? Then you&#8217;ll need to understand what people are paying for their weddings in the area(s) you want to plan events in! This will give you the most accurate idea of the budgets you\u2019re dealing with. From there, you can then work backwards in order to understand what would be a fair price for wedding planning for couples in those areas.<\/p>\n<h3>3. What is my competition charging, and where do I fall on that scale?<\/h3>\n<p>After you\u2019ve taken a look at your local events market, it\u2019s time to research the <em>other <\/em>wedding planners in your area. Let&#8217;s say that the most successful competition in your area is charging a certain amount of money for their planning package. Logically, you (as a brand-new certified wedding planner) probably don\u2019t want to price your services higher than that.<\/p>\n<p>This isn\u2019t to say that you need to undervalue yourself. I&#8217;m not recommending that you charge an extremely low rate simply because you\u2019re new. On the contrary, you still have plenty of value to bring to the table! You should be properly compensated for this! All I&#8217;m saying is that you <em>do <\/em>need to understand what sort of current prices couples will be seeing as they shop around for a wedding planner.<\/p>\n<p><a href=\"https:\/\/www.qceventplanning.com\/blog\/wp-content\/uploads\/2021\/08\/Becoming-a-wedding-planner-in-post-image-3.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"672\" height=\"448\" class=\"alignnone size-full wp-image-19977\" src=\"https:\/\/www.qceventplanning.com\/blog\/wp-content\/uploads\/2021\/08\/Becoming-a-wedding-planner-in-post-image-3.jpg\" alt=\"Know your competition concept\" srcset=\"https:\/\/www.qceventplanning.com\/blog\/wp-content\/uploads\/2021\/08\/Becoming-a-wedding-planner-in-post-image-3.jpg 672w, https:\/\/www.qceventplanning.com\/blog\/wp-content\/uploads\/2021\/08\/Becoming-a-wedding-planner-in-post-image-3-300x200.jpg 300w\" sizes=\"auto, (max-width: 672px) 100vw, 672px\" \/><\/a><\/p>\n<h3>4. What is my\u00a0<em>actual\u00a0<\/em>time investment?<\/h3>\n<p>When first becoming a wedding planner, it\u2019s tempting to want to set your prices pretty low. The thought process behind this decision might be so you can start getting work and signing couples as quick as possible. But it\u2019s important to understand how many hours you\u2019ll <a href=\"https:\/\/www.marthastewart.com\/7969107\/how-much-time-goes-into-planning-wedding#:~:text=Time%20Spent%20Planning,eight%20to%20twelve%20full%20days.\" target=\"_blank\" rel=\"noopener\"><em>actually<\/em> be spending<\/a> on an event. After all, if you left a previous job because your hourly pay rate was too low to support your family, you obviously need to make sure you\u2019re paying yourself <em>more<\/em> than that as a wedding planner.<\/p>\n<p>Here\u2019s what I recommend: sit down and come up with a fictitious \u201caverage planning scenario\u201d for each of your services. Let\u2019s say we\u2019re talking about 60-day coordination. In this case, write down every client interaction, every vendor interaction, every email, every mile you\u2019ll drive, every meeting, and every shopping trip you can imagine. Then, add up those hours. Next, take the specific amount you\u2019re thinking of charging for that service and divide it by the total hours you\u2019ve come up with. This will give you your average hourly rate.<\/p>\n<p>Does that feel too low? If so, you need to bump up your pricing!<\/p>\n<h3>5. How much will it cost to become a wedding planner and run my own business? What additional expenses could arise?<\/h3>\n<p>From business insurance to the monthly fee you\u2019ll be paying for accounting software or website hosting, every certified wedding planner needs to have a clear idea of what their business expenses are each month. This will give you an idea of your break-even point. From there, though, it\u2019s important to consider additional expenses that could arise &#8211; both as it relates to your business and the events you plan.<\/p>\n<p>For example, if a couple wants a dance floor set up in an untraditional area outside, there might be additional day-of labor costs that&#8217;ll need to be passed onto them. If their ceremony venue is in a completely different place from their reception, you\u2019ll have to work with and drive to 2 different venues throughout the planning process.<\/p>\n<p>What does that cost you as you think through that hourly rate you determined in Question #4? Are you renting an office space? If so, is there a chance the rent will rise next year? Are you planning on sending thank-you gifts or welcome baskets to your couples? If so, what will those cost?<\/p>\n<p>You absolutely CANNOT set strategic pricing without first having a clear and constant understanding of what it takes for you to run your business and produce events!<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Becoming_a_Wedding_Planner_My_Final_Thoughts\"><\/span>Becoming a Wedding Planner: My Final Thoughts<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Overall, when you\u2019re first starting out, pricing can be a moving target. This is perfectly acceptable (in fact, it\u2019s expected)! You may find that the prices you set during your first season in business were too low or too high, and need to adjust accordingly. The important thing is that you start from as informed of a place as possible. From there, you can then allow the actual work and experience to shape any future adjustments you make.<\/p>\n<p>Here\u2019s to planning with passion and purpose &#8211; and setting prices that <em>truly<\/em> reflect the value of your incredible skill-set!<\/p>\n<p>Xoxo,<\/p>\n<p>-Mwai<\/p>\n<h3><strong>Ready to become a wedding planner? Start the career of your dreams in as little as 3-6 months by <a href=\"https:\/\/enroll.qceventplanning.com\/\" target=\"_blank\" rel=\"noopener\">enrolling with QC Event School today<\/a>!<\/strong><\/h3>\n","protected":false},"excerpt":{"rendered":"<p>Thinking of becoming a wedding planner? Then you&#8217;ll need to know how to properly set your service rates! Luckily, QC Event School tutor, Mwai Yeboah, is here to help with 5 awesome tips to get you started! With over 15 years of industry experience, Mwai is the proud owner of\u00a0Love, From Mwai. In addition to [&hellip;]<\/p>\n","protected":false},"author":29,"featured_media":19967,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"inline_featured_image":false,"footnotes":""},"categories":[9,6,11],"tags":[49,50,24,51,52,53,54],"ppma_author":[363],"class_list":["post-19966","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-from-the-experts","category-general-tips","category-career","tag-become-a-wedding-planner","tag-becoming-a-wedding-planner","tag-career-advice","tag-how-to-become-a-wedding-planner","tag-qc-event-school","tag-wedding-planner","tag-wedding-planning"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.6 (Yoast SEO v26.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Becoming a Wedding Planner: How to Set Your Rates - Pointers for Planners<\/title>\n<meta name=\"description\" content=\"Thinking of becoming a wedding planner? 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